Worthington Enterprises Supports PHMSA Cylinder Safety Advisory Seeking to Keep Americans Safe from Fraudulent Imports
In its advisory, PHMSA described the safety issue by writing, 'Cylinders that are not authorized for the safe filling or transport of gases are being sold online by major retailers. PHMSA is particularly concerned that these cylinders are not manufactured to a DOT specification or UN standard, lack certification markings as required by [PHMSA's regulations], and are being sold to consumers, and HVAC personnel and service technicians. For cylinders that are used for activities such as outdoor grilling or camping, consumers should ensure their cylinders are in compliance with [PHMSA's regulations] for their own safety. Likewise, technicians are supposed to use authorized DOT specification or UN standard cylinders to extract or recover refrigerant gas from systems in need of repair or replacement, so that the cylinder can be safely and legally transported.'
Joe Hayek, president and chief executive officer, Worthington Enterprises, said, 'We are grateful for PHMSA's work to keep Americans safe, and we share the agency's concerns about the proliferation of non-compliant cylinders making their way into and throughout our country. There is mounting evidence that companies in China and other countries are undermining DOT's pressurized cylinder quality and safety standards that Worthington has adhered to for more than 50 years. The sale of non-compliant cylinders and the shipping of hazardous material in those cylinders without required markings creates safety risks that need to be addressed.'
The Compressed Gas Cylinder Safety and Oversight Improvements Act of 2023 (H.R. 3404 and S. 1632) is an important part of the solution. The proposed bill, which was introduced by a bipartisan group of co-sponsors from the U.S. Senate and U.S. House of Representatives, seeks to require the U.S. Secretary of Transportation to establish regulations relating to cylinders manufactured in foreign countries and sold in the United States. Regulations could include facility inspections and other protocols to ensure safety and compliance. While this bill was not enacted before the end of the last Congressional session, Worthington Enterprises is eager to collaborate with the new Congress and the Trump administration to enact these reforms in 2025.
Hayek concluded, 'These products, which are growing in variety and volume, are potentially unsafe and put users in danger. The risks presented will only grow in the absence of consistent inspection and accountability. We are looking forward to working with Congress and the professional leadership at PHMSA to champion high-quality and safe products made in America.'
Worthington Enterprises manufacturers cylinders in the United States at facilities in Maize, Kansas; Paducah, Kentucky; Columbus, Jefferson and Westerville, Ohio; West Warwick, Rhode Island; and, Chilton, Wisconsin.
About Worthington Enterprises Worthington Enterprises (NYSE: WOR) is a designer and manufacturer of market-leading brands that help enable people to live safer, healthier and more expressive lives. The Company operates with two primary business segments: Building Products and Consumer Products. The Building Products segment includes cooking, heating, cooling and water solutions, architectural and acoustical grid ceilings and metal framing and accessories. The Consumer Products segment provides solutions for the tools, outdoor living and celebrations categories. Product brands within the Worthington Enterprises portfolio include Balloon Time®, Bernzomatic®, Coleman® (propane cylinders), CoMet®, Garden Weasel®, General®, HALO™, Hawkeye™, Level5 Tools®, Mag Torch®, NEXI™, Pactool International®, PowerCore™, Ragasco®, Well-X-Trol® and XLite™, among others. The Company also serves the growing global hydrogen ecosystem via a joint venture focused on on-board fueling systems and gas containment solutions.
Headquartered in Columbus, Ohio, Worthington Enterprises and its joint ventures employ approximately 6,000 people throughout North America and Europe.
Founded in 1955 as Worthington Industries, Worthington Enterprises follows a people-first Philosophy with earning money for its shareholders as its first corporate goal. Worthington Enterprises achieves this outcome by empowering its employees to innovate, thrive and grow with leading brands in attractive markets that improve everyday life. The Company engages deeply with local communities where it has operations through volunteer efforts and The Worthington Companies Foundation, participates actively in workforce development programs and reports annually on its corporate citizenship and sustainability efforts. For more information, visit worthingtonenterprises.com.
Forward-Looking Statements Statements by Worthington Enterprises that are not limited to historical information constitute 'forward-looking statements' under federal securities laws. Forward-looking statements are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from those expected by Worthington Enterprises. Readers should evaluate forward-looking statements in the context of such risks, uncertainties and other factors, many of which are described in Worthington Enterprises' filings with the Securities and Exchange Commission ('SEC'). Forward-looking statements are qualified by the cautionary statements included in Worthington Enterprises' SEC filings and other public communications. This press release speaks only as of the date hereof. Worthington Enterprises does not undertake any obligation to update or revise its forward-looking statements except as required by applicable law or regulation.
Sonya L. HigginbothamSenior Vice PresidentChief of Corporate Affairs, Communications and Sustainability614.438.7391sonya.higginbotham@wthg.com
Marcus A. RogierTreasurer and Investor Relations Officer614.840.4663marcus.rogier@wthg.com
200 West Old Wilson Bridge Rd.Columbus, Ohio 43085WorthingtonEnterprises.comSign in to access your portfolio
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
26 minutes ago
- Yahoo
5 Estate Planning Changes To Make After Retirement
The average American spends so much time planning for retirement that when the end of their work-life finally arrives, they don't think there's anything left to do. Your financial and familial dynamics have changed since you began the process of estate planning years ago, so updating your affairs after retirement is essential to provide for your loved ones and get the best out of the rest of your life. Trending Now: Consider This: This is particularly true with Secure 2.0 Act measures coming into effect this year that will benefit retirees. According to Fidelity, people in or near retirement (or years away from it) need to address new rules concerning catch-up contributions, required minimum distributions (RMDs), automatic enrollment changes, Roth IRA matching and more. For those who've already stopped working, here are five basic things you should be reviewing and updating every three to five years or after any major life event, like the death of a spouse, a new grandchild or a significant change in tax law. Revise Your Current Estate Documents Make sure the beneficiaries, executors and trustees in your will or revocable living trust represent your current desires. After retirement, power of attorney agreements for financial and medical decisions frequently need to be updated. If you have a trust, think about using a pour-over will to capture any assets that aren't already titled in the trust. For You: Review Your Beneficiary Designations Relationships change throughout your life, so you should be on top of adding new beneficiaries and removing any that are out of date in retirement. According to Roulet Law Firm, PA, beneficiary delegation override the conditions set out in your will, so life insurance policies, retirement and investment accounts and payable-on-death (POD) designations have to be updated when you retire. Minimize Your Tax Burden You should always be looking to minimize your taxable estate and gaining advantages by gifting up to the yearly exclusion (19,000 per recipient in 2025, per the IRS), about making charitable contributions through a charitable trust or donor-advised fund (DAF). Examine IRA distribution plans (such as Roth conversions) to reduce heirs' tax obligations. Plan for Long-Term Care Costs You'll need to consider long-term care planning — for example, Medicaid asset protection trusts — if nursing care costs are going to be a problem, per Hargrave Law, PC. But you'll also need to know the nitty gritty of policies, like Medicaid's asset transfer rules and Look Back Period. Alternatives like hybrid life insurance plans with long-term care (LTC) riders or LTC insurance from an independent coverer should always be explored. Account for New Assets Think of your estate plan as a flexible document to be updated when new assets are acquired in retirement. A new property or valuable collectible will be need to be appraised and designated to a specific person to whom you wish to entrust your newer assets. This includes any digital asset directives for online accounts and cryptocurrencies, which the IRS treats as personal property for federal tax purposes. Updating your estate documents can ensure your retirement plans remain up-to-date, minimize your tax responsibility and provide for your loved ones according to your wishes. Consulting a financial advisor or estate planning lawyer is a smart move, but a smarter one is discussing your wishes and explaining any trusts or special arrangements to your family and heirs to avoid confusion and disputes down the line. More From GOBankingRates 5 Ways Trump Signing the GENIUS Act Could Impact RetireesMark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's Why This article originally appeared on 5 Estate Planning Changes To Make After Retirement Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26 minutes ago
- Yahoo
Lowe's Raises Outlook, Expands Pro Reach With $8.8 Billion Acquisition
Lowe's Companies, Inc. (NYSE:LOW) reported second-quarter net earnings of $2.4 billion, or diluted Earnings Per Share (EPS) of $4.27, compared to $4.17 in the year-ago quarter. Adjusted diluted EPS rose 5.6% to $4.33 from $4.10, topping analyst estimates of $4.24. Quarterly sales reached $23.96 billion, compared with $23.59 billion a year earlier, and came in slightly above Wall Street's estimate of $23.96 billion. Comparable sales increased 1.1%.Gross margin expanded 34 basis points to 33.81%, with gross profit up 2.6% to $8.1 billion. Operating margin narrowed by 15 basis points to 14.5%. 'This quarter, the company delivered positive comp sales driven by solid performance in both Pro and DIY,' said Marvin R. Ellison, Lowe's chairman, president and CEO. 'In June, we closed on the acquisition of ADG, which strengthens our ability to capture a greater portion of Pro planned spend and expands our reach into the new home construction market.' As of Aug. 1, 2025, Lowe's operated 1,753 stores totaling 195.5 million square feet. During the quarter, the company invested $1.3 billion in the Artisan Design Group (ADG) acquisition and paid $645 million in dividends. First-half operating cash flow was $7.6 billion, compared with $7.4 billion a year earlier. Cash and equivalents stood at $4.9 billion, with long-term debt of $30.54 billion and $4.2 billion in current maturities. Outlook Lowe's updated its fiscal 2025 guidance to reflect the ADG acquisition. It now expects total sales of $84.5 billion to $85.5 billion, raised from $83.5 billion to $84.5 billion, and ahead of analyst estimates of $84.28 billion. View more earnings on LOW Comparable sales are projected to be flat to up 1% year over year. The company forecast operating margin of 12.1% to 12.2% and adjusted operating margin of 12.2% to 12.3%. GAAP diluted EPS is expected at $12.10 to $12.35 versus analyst expectations of $12.29. Adjusted diluted EPS is projected at $12.20 to $12.45, raised from $12.15 to $12.40, compared with estimates of $12.29. Capital expenditures are projected at approximately $2.5 billion. Foundation Building Materials Acquisition Lowe's also announced it has entered into a definitive agreement to acquire Foundation Building Materials (FBM) for about $8.8 billion, strengthening its Pro customer offering. The all-cash deal represents a 13.4× adjusted EBITDA multiple and is backed by $9.0 billion in fully committed bridge financing from Bank of America and Goldman Sachs. The transaction is expected to close in the fourth quarter of 2025, pending regulatory approvals. FBM serves more than 40,000 Pro customers across over 370 locations in the United States and Canada. On a pro forma basis, it generated $6.5 billion in revenue and $635 million in adjusted EBITDA in 2024, with five-year compound annual growth rates (CAGR) of 25% for revenue and 30% for adjusted EBITDA. Lowe's said the acquisition enhances its Pro offering, increases Pro penetration, and positions the company for sustainable growth. 'With this acquisition, we are advancing our multi-year transformation of the Pro offering,' Ellison said. FBM's President and CEO, Ruben Mendoza, who will remain in place, added that combining with Lowe's will provide a more comprehensive solution for Pro customers. The deal is expected to be accretive to adjusted diluted EPS in its first full year, excluding synergies. Price Action: LOW shares were trading higher by 3.08% to $264.25 premarket at last check Wednesday. Read Next:Photo via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? LOWE'S COMPANIES (LOW): Free Stock Analysis Report This article Lowe's Raises Outlook, Expands Pro Reach With $8.8 Billion Acquisition originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26 minutes ago
- Yahoo
Baron Opportunity Fund Sold Its Stake in Apple (AAPL)
Baron Funds, an investment management company, released its 'Baron Opportunity Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund posted solid returns, rising 23.27% (Institutional Shares), exceeding the Russell 3000 Growth Index's (the Benchmark) 17.55% gain and the S&P 500 Index's 10.94% gain. The Fund appreciated 8.52% for the first half, compared to 5.80% and 6.20% returns for the indexes. In addition, you can check the fund's top 5 holdings to determine its best picks for 2025. In its second-quarter 2025 investor letter, Baron Opportunity Fund highlighted stocks such as Apple Inc. (NASDAQ:AAPL). Apple Inc. (NASDAQ:AAPL) is an American multinational company that designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories. The one-month return of Apple Inc. (NASDAQ:AAPL) was 7.66%, and its shares gained 1.84% of their value over the last 52 weeks. On August 19, 2025, Apple Inc. (NASDAQ:AAPL) stock closed at $230.56 per share, with a market capitalization of $3.422 trillion. Baron Opportunity Fund stated the following regarding Apple Inc. (NASDAQ:AAPL) in its second quarter 2025 investor letter: "Apple Inc. (NASDAQ:AAPL) is a leading manufacturer of consumer electronics, computer software, and online services. Shares declined amid mounting headwinds, including new U.S. tariffs on Apple's China centric supply chain, which are pressuring gross margins, and increased regulatory scrutiny of the App Store model in both the U.S. and Europe. These developments have introduced greater uncertainty around the growth and profitability of Apple's high margin services business. While we continue to admire Apple's brand, ecosystem, and long-term innovation capabilities, the ongoing regulatory overhang and heightened risk to margins and growth prospects led us to exit the position and reallocate capital to holdings with more compelling risk/return profiles." A wide view of an Apple store, showing the range of products the company offers. Apple Inc. (NASDAQ:AAPL) is in 8th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 159 hedge fund portfolios held Apple Inc. (NASDAQ:AAPL) at the end of the first quarter, which was 166 in the previous quarter. Apple Inc. (NASDAQ:AAPL) reported revenue of $94 billion in the June quarter, reflecting a 10% year-over-year increase. While we acknowledge the potential of Apple Inc. (NASDAQ:AAPL) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Apple Inc. (NASDAQ:AAPL) and shared the list of stocks Jim Cramer recently discussed. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data